Irish-based oil and gas exploration company Providence Resources has had its drilling licence for the southern Porcupine Basin, located off the south west coast of Ireland, extended until 2025.
The basin lies in c. 1,500m water depth around 170km off the coast.
The Frontier Exploration Licence is operated by Eni Ireland on behalf of a number of partners, including Providence – which holds a 26.8% share.
It contains the 2013-drilled Dunquin North carbonate build-up, which hosts a residual oil column, together with the undrilled Dunquin South exploration prospect.
Commenting on the extension, Providence CEO Tony O’Reilly said: "We are pleased to have received this confirmation from the government on the licence extension as we continue to move forward with the evaluation of this licence."
